Canopy Growth to supply cannabis to Prince Edward Island

Reuters Staff

2 Min Read

Jan 16 (Reuters) - Canopy Growth Corp said on Tuesday it signed an agreement to supply cannabis to the Canadian province of Prince Edward Island, making it the eighth province where the company will operate.

Canopy Growth will allocate the province a minimum of 1,000 kg of cannabis for the first year, the company said.

The two-year supply agreement will renew for a third-year upon mutual agreement of the company and province.

Prince Edward Island said it also signed a supply deal with medical marijuana maker OrganiGram Holdings Inc. (bit.ly/2DiQNQ4)

Last month, Smiths Falls-based Canopy said it would supply cannabis to the province of Newfoundland and Labrador. The company also said it would establish a production facility in the province capable of producing 12,000 kg of marijuana per year.

Canopy Growth’s expansion comes as Canada is set to legalize recreational marijuana by July, becoming the second country in the world to do so after Uruguay. (Reporting by John Benny in Bengaluru; Editing by Maju Samuel)